Asian Development Outlook (ADO) 2021 Update: Transforming Agriculture in Asia

Growth forecasts are revised up for East Asia and Central Asia from the projections made in April, but down for South Asia, Southeast Asia, and the Pacific. This reflects differences in vaccination progress and control of domestic COVID-19 outbreaks but also other factors, including rising commodity prices and depressed tourism. Inflation is expected to remain under control. The main risks to the economic outlook come from the COVID-19 pandemic, including the emergence of new variants, slower-than-expected vaccine rollouts, and waning vaccine effectiveness.

Asian Development Outlook 2021 Launch

Developing Asia’s recovery has strengthened. Manufacturing and trade have rebounded, remittances have been relatively resilient, and policy support has been strong. But outbreaks are reemerging, vaccination efforts face challenges, and tourism remains hobbled.

This Asian Development Outlook 2021 launch webinar discussed the outlook and risks for the region.